China's leading liquor producer reports H1 profits

GUIYANG -- China's leading liquor producer, Kweichow Moutai, said its net profit rise by 13.29 percent year-on-year to 22.6 billion yuan (about $3.2 billion) in the first half of 2020.

The company also said in its H1 earnings report that it generated operating revenue of 43.95 billion yuan, an annual increase of 11.31 percent.

The domestic market contributed 42.81 billion yuan of its operating income in H1.

As of the close of trading on July 28, Moutai's share price was 1,670 yuan, up by 2.92 percent on the day, with its total market value reaching nearly 2.1 trillion yuan.

In 2019, Moutai's revenue was at around 88.85 billion yuan, up by about 15.1 percent year-on-year. Its operating profit rose by 14.99 percent from the previous year to about 59 billion yuan.

The legendary liquor producer, based in Southwest China's Guizhou province, produced around 75,000 tons of base liquor for its Moutai brand and series brands in 2019, up by 6.88 percent year-on-year.